A Deal Could Open Closed Industries to Both Nations, Boosting Business Between the World's Two Largest Economies

WASHINGTON—Senior U.S. and Chinese officials agreed Thursday to restart stalled negotiations to reach an investment treaty between the world's two largest economies that could dramatically expand business opportunities for both countries.

The deal could open up more than 100 Chinese industries to investment by U.S. businesses, such as automakers, banks, and chemical and energy companies, that face restrictions on investment in that country's fast growing economy. Chinese companies would win smoother access to the U.S.,...